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Cliffs Natural Resources (NYSE:CLF): Closing price $20.33
Shares of the iron producer fell more than 6 percent Tuesday following Goldman Sachs lowering its price target, pointing to a bleak outlook for the steelmaking material. Goldman reduced its 2013 to 2015 price forecasts for iron ore by an average of 8 percent, which moved the mining analyst Sal Tharani to cut his price target on the shares from $24 to $20. Tharani also maintained his Sell on the stock in a research note published on Tuesday. Shares closed down 6.61 percent on the day at $20.33, and have been traded in a 52-week range between $20.06 and $71.94.
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